I know that Florida has been hit hard by the foreclosure crisis, but damn. That’s less than a dollar a square foot. I can’t buy a storage shed for less than $1100, much less a brick home that appears to be in pretty decent shape.
What am I missing in this listing? Thousands of dollars in back taxes, or something?
FWIW, cheap houses apparently abound in Daytona Beach, if realtor.com is to be believed. And condos, too. Beachfront condos starting at about $3000.
It’s probably a mislabeled rental. Or else it comes with baggage like “We’ll only sell you this house if you promise to move it so we can build a highway here.”
Yep it’s a rental…look at the “property details” tab or look it up on zillow.
I live in a part of the country where you can buy entire houses and city lots for as little as $25 (I own a $25 city lot) but they’re not typically nice brick homes on a golf course with swimming pool and elegant clubhouse facilities.
realtor.com does that…I sometimes get rental properties in the For Sale search results. I think sometimes they’re “featured listings” where the listing agent pays extra for top placement on the page.
There are many distressed urban areas of the US where you can get real estate for almost nothing (ie a few hundred to a few thousand dollars) for an entire house and lot. There are also some urban areas so distressed they will virtually give you the real estate if you agree to “homestead” there.
The flip side is that these are mostly distressed properties, in the poorer and more dangerous areas of town, and many are in marginal physical condition, that you are now legally responsible for (if purchased) paying the taxes, maintaining the external appearance, and bringing the unit up to code if you wish to lease or occupy it.
In many peoples estimation these push ups and expenses are not worth the value of the real estate or the risk of living there, or the hassle and risk of renting to tenants in impoverished areas.
It’s a couple of days since the op posted and now the link has “$1100/month” on the price line implying that it’s either a rental or a finance arrangement. Was it like that on 7/20?
That’d be my guess, too. Buffalo also has pretty insanely cheap prices (plenty of non-foreclosures at under $30K for 1500 square foot houses. But not $25.)
